The Safest Banks in Emerging Markets

Uncertain growth prospects in the developed world are turning more companies and investors toward emerging markets for better gains. How secure are the financial systems in these rapidly developing economies? While some banks in emerging markets may be growing at an unprecedented pace, they could also be exposing clients to more credit risks and higher funding costs.

With this in mind, we look at the 10 safest banks in emerging markets based on rankings by the Global Finance magazine, which publishes an annual list of the top 50. The rankings are based on ratings assigned by the three major credit ratings agencies — Fitch Ratings, Standard & Poor's, and Moody's. To be eligible for the ranking, banks must be among the 500 largest in emerging markets by asset size and have a rating from two of the three major agencies.

So, which are the safest banks in emerging markets? Click ahead to find out.